Binance to Delist OmiseGO (OMG), WAVES, Wrapped NXM (WNXM), and NEM (XEM): Token Prices Crash
Binance has announced its decision to delist four digital assets: OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM). The announcement, made on June 3, 2024, has affected these tokens, causing price drops and trending on social media platforms.
What you'll learn 👉
Periodic Review and High Standards
Binance periodically reviews each listed digital asset to ensure that it continues to meet the exchange’s high standards and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, Binance conducts a more in-depth review and potentially delists it.
The exchange prioritizes the best services and protections for its users while adapting to evolving market dynamics.
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Show more +Factors Considered in Delisting Decisions
Binance considers a variety of factors when conducting these reviews, including:
- Commitment of team to project
- Level and quality of development activity
- Trading volume and liquidity
- Stability and safety of network from attacks
- Network / smart contract stability
- Level of public communication
- Responsiveness to periodic due diligence requests
- Evidence of unethical/fraudulent conduct or negligence
- New regulatory requirements
- Contribution to a healthy and sustainable crypto ecosystem
Trading Pairs and Deadlines
The following trading pairs will be removed on June 17, 2024, at 03:00 (UTC):
- OMG/USDT
- WAVES/BTC
- WAVES/ETH
- WAVES/TRY
- WAVES/USDT
- WNXM/USDT
- XEM/USDT
All trade orders will be automatically removed after trading ceases in each respective trading pair. Deposits of these tokens after June 18, 2024, at 03:00 (UTC) will not be credited to users’ accounts. Withdrawals of these tokens from Binance will not be supported after September 17, 2024, at 03:00 (UTC).
The announcement of the delisting has had an immediate impact on the prices of the affected tokens. As of the time of writing, OmiseGo (OMG) is down 9.42%, Waves (WAVES) has dropped 10.82%, Wrapped NXM (WNXM) is down 1.30%, and NEM (XEM) has fallen 7.49% in the last 24 hours.
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